What is the Full Form of BPO ?
BPO - Business Process Outsourcing
Business Process Outsourcing refers to contracting of the operations and responsibilities of business functions to a third-party service provider. Any types of industry can include BPO like : call centers, payroll outsourcing, human resources or accounting. The major reason for which Outsourcing is implemented, is a cost-saving measure for tasks that a company require.
Following are some of the advantages of BPO :-
- Outside expertise
- Concentration on core business
- Increase in Revenue
- Increase in company’s flexibility
- Cost reductions
India is a popular location for activities of Business Process Outsourcing. The business deals involve multi-year contracts that can run into hundreds of millions of dollars.